Whittier Trust Co. of Nevada Inc. Raises Stake in Baker Hughes (NASDAQ:BKR)

Whittier Trust Co. of Nevada Inc. raised its position in Baker Hughes (NASDAQ:BKR) by 44.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,858 shares of the company’s stock after acquiring an additional 2,743 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Baker Hughes were worth $363,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in BKR. Raymond James Financial Inc. purchased a new position in Baker Hughes in the fourth quarter worth approximately $291,289,000. Hotchkis & Wiley Capital Management LLC lifted its stake in Baker Hughes by 34.7% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 10,920,478 shares of the company’s stock worth $394,775,000 after acquiring an additional 2,811,940 shares during the last quarter. Congress Asset Management Co. acquired a new stake in Baker Hughes during the fourth quarter worth approximately $107,155,000. Yaupon Capital Management LP acquired a new stake in Baker Hughes during the third quarter worth approximately $47,296,000. Finally, Natixis Advisors LLC raised its holdings in Baker Hughes by 217.5% during the fourth quarter. Natixis Advisors LLC now owns 1,728,450 shares of the company’s stock worth $70,901,000 after purchasing an additional 1,184,036 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on BKR shares. Stifel Nicolaus raised their price objective on shares of Baker Hughes from $48.00 to $54.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Jefferies Financial Group raised their price objective on shares of Baker Hughes from $48.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Benchmark reissued a “buy” rating and set a $57.00 price objective on shares of Baker Hughes in a report on Tuesday, February 11th. Evercore ISI raised their price objective on shares of Baker Hughes from $46.00 to $52.00 and gave the stock an “outperform” rating in a report on Wednesday, January 15th. Finally, Wells Fargo & Company lifted their target price on shares of Baker Hughes from $49.00 to $54.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $51.06.

Insiders Place Their Bets

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of the business’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $44.77, for a total transaction of $358,160.00. Following the sale, the executive vice president now directly owns 173,302 shares in the company, valued at approximately $7,758,730.54. The trade was a 4.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.25% of the company’s stock.

Baker Hughes Stock Performance

Shares of BKR opened at $44.11 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32. The stock has a market capitalization of $43.67 billion, a P/E ratio of 14.80, a P/E/G ratio of 2.00 and a beta of 1.30. The company’s fifty day moving average is $44.97 and its two-hundred day moving average is $41.37. Baker Hughes has a 1 year low of $30.93 and a 1 year high of $49.40.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Thursday, January 30th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.07. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. On average, sell-side analysts predict that Baker Hughes will post 2.59 earnings per share for the current year.

Baker Hughes Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Tuesday, February 11th were given a dividend of $0.23 per share. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.21. This represents a $0.92 annualized dividend and a dividend yield of 2.09%. The ex-dividend date was Tuesday, February 11th. Baker Hughes’s payout ratio is presently 30.87%.

About Baker Hughes

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. The company operates through Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides related services, including exploration, appraisal, development, production, rejuvenation, and decommissioning for onshore and offshore oilfield operations.